Firmus risks losing OpenAI if it fails to raise billions fast

Firmus Technologies could lose flagship client OpenAI if a sprawling Malaysian data centre campus is significantly delayed, according to confidential documents that point to the artificial intelligence infrastructure play’s scramble for immediate financing. Along with Meta Platforms, the company behind Facebook and Instagram, OpenAI is Firmus’ key customer with a deal to lease infrastructure from two sites near Kuala Lumpur from September next year. Under the agreement, details of which have been circulated to some investors, OpenAI can “terminate the [agreement] in connection with material delivery delays or other material breaches that are not remedied within [time].”